Open house: A new concept in Indian real estate

May 21 2014, 18:59 IST
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The cost of such open houses should be kept within strict budget in order to conduct as many as possible. The cost of such open houses should be kept within strict budget in order to conduct as many as possible.
SummaryThe concept of Open House has been quite niche in terms of being known to customers who plan to buy homes for future investments

The concept of Open house has been quite niche in terms of being known to customers who plan to buy homes for future investments. Though it has been a prevalent concept, however, it has been never been used as a concept on sites to promote projects. In this concept, people are shown a fully furnished home which is put on sale, this will enable others to make the right decision with their investment in real estate.

The Indian real estate industry hasnít adapted to the habit of change which can bring forth new developments and changes all around. The best positive effect of such a concept came out when the seller is able to get a direct confirmation from his/her client, whether to sell or buy.

Paper advertising, event creation on social networks, getting signage designed and assigning agents their respective jobs on the D-day of the Open House is a daunting tasks which is always undertaken by Nirav and Harit. As hardcore marketing professionals, they make sure everything is in motion and zero-error chances are always created by the duo. They also plan on gifting goodies to customers who are really interested in buying a property, such actions help in building loyal customers and improving the goodwill of the firm.

The phenomenon that what one sees is what one believes. Virtual tours and slide shows can be the best way to convince customers about the prospective homes they are looking for. The cost of such open houses should be kept within strict budget in order to conduct as many as possible. Normally, it is seen that some of the most important information is shared through mails; however, it should be mandatory to share important information with customers during such open houses. This help in building up more trust and confidence, therefore, rise in the number of loyal customers as well as company goodwill.

It is vital to select the best available property on site to conduct an Open House session, substantial amount of time, resources and money is spent to conduct one proper session. If the property location is not right, the whole hard work can go for a toss. Manish Patni, Owner at RE/MAX Investmart feels the same. The Open House sessions are a perfect way to create a group of buyers who may or may not want to invest in a property shown to them, however, other options can also be

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